Since so many applicants apply to
business school because they wish to pursue a popular
MBA career path such as
management consulting, investment banking, or venture
capital, we decided it only made sense to add a section
to our books review on these jobs. While we readily acknowledge
that many MBAs pursue careers paths in Fortune 500s and
small start ups, the following three professions tend
to attract the most interest and questions.
Management Consulting
Investment Banking
Venture Capital
The McKinsey Way by Ethan M. Raisel
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If you are looking for insight into
McKinsey & Company,
this is an excellent book. McKinsey is widely considered
the most prestigious management consulting firm in the
world and for good reason. (Just look at the numerous
boutique firms that boast their staff consists of ex
McKinsey consultants.) Their approach to identifying
problems and selling solutions to their clients are covered
with remarkable clarity. It certainly would not hurt
you to be familiar with this book should you interview
with McKinsey.
Ace Your Case V: The Latest
and Greatest by Wetfeet
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What we like most about this book
is that it stresses the frameworks you must show during
your on-campus interviews.
Despite what certain other reviewers may tell you, the
consulting recruiters are far more interested in your
thought processes and frameworks than your actual proposed
solution. Keep in mind this is likely to be a situation
several seasoned consultants looked at for a long time.
As a result, you are not expected to find the "right" answer
during the course of a half-hour interview.
The Fast Track: The Insider's Guide
to Winning Jobs in Management Consulting, Investment
Banking, and Securities Trading by
Mariam Naficy
Buy this from Amazon.com
This rather unique book is written from the perspective
of the hiring managers. This point of view plus the book's
broad career scope of consulting, investment banking,
and securities trading make this a very good buy. We
know MBA graduates who wished they had read this book
when they were still in business school!
Management Consulting: A Complete
Guide to the Industry by
Sugata Biswas and Daryl Twitchell
Buy this from Amazon.com
This guide contains several case interview questions
as well as sample answers. This is a good way to aid
your preparation for the consulting interviews you will
be facing just a few short months into your business
school career.
The Vault Career Guide to Investment Banking, 5th ed.
Buy this from Amazon.com
This guide is widely considered to be the most authoritative
source on investment banking career opportunities for
many good reasons. It contains good detail about the
various investment banking specialties and the key players
in each of those niches. It also does a nice job of balancing
the demands and rewards of this career. Also included
are some details on the major investment bank recruiters
that you will not find in their MBA recruitment literature.
Done Deals: Investment Banks at Work by
Robert G. Eccles
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This guide contains in-depth interviews
from mid-level and top-level executives at each of
the "bulge bracket" American
investment banks as well as many other I-banks as well.
These executives provide useful insight into how they
view their work, their relationships with their clients
and other banks and, perhaps most importantly from the
perspective of a MBA applicant, compensation is discussed
as well.
The Business of Investment Banking by
K. Thomas Liaw
Buy this from Amazon.com
This hefty-priced book has 352 pages
that cover the industry in great detail including often-overlooked
niches such as proprietary trading, operations, money management,
and repurchase transactions. It obviously also covers
underwriting, M&A (mergers and acquisitions), and
securities trading in good detail as well. If you are
serious about making a career switch into investment
banking, then this is the book for you.
Beat the Street:
The Wetfeet Insider Guide to Investment Banking Interviews
by Wetfeet
 Buy this from Amazon.com
Many helpful tips on the investment banking recruiting
process. You will definitely have an advantage over your
peers if you read this book.
eBoys: The First Inside Account of
Venture Capitalists at Work by Randall
E. Stross
Buy this book from Amazon.com
This very interesting book uses a good story-telling
approach to the inner workings of Benchmark Capital,
perhaps the most prestigious venture capital firm in
the world. Insight into how the company did such far-ranging
things as reviewing start-up business plans and deciding
who to make partner are covered. Accounts are also included
into the firm's funding of such start-ups as eBay, Priceline,
and Webvan.
Angel Investing: Matching Startup
Funds with Startup Companies by Robert
J. Robinson and Mark Van Osnabrugge
Buy this book from Amazon.com
Robinson, a management consultant, and
Van Osnabrugge, an associate professor at Harvard Business
School use personal interviews, anecdotal evidence,
and more than 300 research studies to provide an insightful
look into angel investors who, as the book deftly states,
provide many times more capital than the better-known
venture capitalists. If you are curious to learn more
about angel investors, this is your book.
Done Deals: Venture Capitalists Tell
Their Stories by Udajan Gupta (editor)
Buy this book from Amazon.com
This book contains 35 personal accounts
told from the first person perspective of investments
in such start
ups as Excite, Genentech, Intel and 3Com. While this
blend of older and newer accounts provides a good insight
into how the venture capitalists have been evolving,
there is a much bigger focus on the deals' returns than
why the deals were funded. If you are more interested
in why the deals were funded, than you should consider
the "eBoys" book review immediately prior to
this one.
Inside the Minds: Venture Capitalists
Inside the High Stakes and Fast Moving World of Venture
Capital
Buy this book from Amazon.com
This book contains interviews with many of the leading
VCs in the industry. It also covers how the venture capitalists
examine business models and make funding decisions. The
segment about the thoughts on the future of the Internet
is especially interesting as this book was published
in April of 2000 – right before the Internet speculative
bubble burst.
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